Who is the insurance for?

Yesterday afternoon I was involved in a car accident, and even though I had insurance, I ended up having to pay 3 million dong out of my own pocket.

Yesterday afternoon I was involved in a car accident, and even though I had insurance, I ended up having to pay 3 million dong out of my own pocket.

- That's strange! What's the point of mandatory insurance if you don't use it when something happens?

- Then buy it according to the proper procedures, otherwise, if you want compensation, the paperwork is complicated, and few people have the patience to wait.

- As a result, insurance companies are generating substantial revenue. The figures clearly show this: According to the latest data published by the Insurance Supervision and Management Department, in the first 11 months of 2024, revenue from this type of insurance reached nearly 737 billion VND, but claims paid out amounted to only 28.5 billion VND.

- This is partly because buyers are unaware of their rights. If you buy insurance without knowing what you're entitled to or how to claim it, you naturally won't claim it!

- Mandatory insurance is necessary, no one denies that. But if it's mandatory, then people must be clearly informed of what they're buying, and the claims process must be truly easy. Don't let the insurance policy serve only as a... "protective charm" to get by on the road!

DE MI PHO

Source: https://www.sggp.org.vn/bao-hiem-cho-ai-post852183.html